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47-47A Grimsby Rd 2,010 SF 78% Leased Retail Building Cleethorpes DN35 7AQ $250,101 CAD ($124.43 CAD/SF)

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Investment Highlights

Value-Add Mixed-Use Investment Opportunity.
Fully Let to Separate Tenants.
Forms Part of a Popular Parade.
Investment Let at £18,431 p.a. (13.65% GIY on Guide Price).

2 x Retail Units and 2 x Flats to the Upper Parts.
Asset Management Potential.
Investment Let at £14,431 p.a. (10% GIY on Guide Price).

Executive Summary

The property comprises a freehold mixed-use investment forming part of a popular local parade. Arranged as two ground floor retail units with two separately accessed flats to the upper parts, the property is fully let to four tenants on separate leases producing a total rent of £18,431 per annum. We understand the property includes a small vacant store/warehouse to the rear which could also be let separately, improving rents further. The property is situated on Grimsby Road, an established and popular location comprising the principal retail amenity for the surrounding residential area

Marketing Brochure/Flyer

Property Facts

Sale Type

Investment

Sale Condition

Auction Sale

Property Type

Retail

Tenure

Freehold

Property Subtype

Storefront Retail/Residential

Building Size

2,010 SF

Building Class

Year Built

1959

Price

$250,101 CAD

Price Per SF

$124.43 CAD

Percent Leased

78%

Tenancy

Multiple

Building Height

2 Stories

Building FAR

1.54

Lot Size

0.03 AC

Frontage

16’ on Grimsby Road

24 Hour Access

Major Tenants

Area 51
Retailer
529 SF
-
Nov 2024

Tenant	Industry	SF Occupied	Rent/SF			Lease End
Area 51	Retailer	529 SF	-			Nov 2024

Space Availability

Space
Size
Space Use
Position
Available

Ground
433 SF
Retail
In-Line
Now

The property is located on Grimsby Road in Cleethorpes, a principal route connecting Cleethorpes and Grimsby, benefitting from high volumes of vehicular traffic and passing trade. The premises has frontage to Grimsby Road, with roadside parking available in the immediate vicinity. Further along the road is the Grimsby Town Football Club stadium, which attracts significant visitor numbers on match days and contributes positively to the commercial profile of the area.